Global Partnerships

BERLIN (IDN-INPS) - When the finance ministers of the G7 countries (Canada, France, Germany, Italy, Japan, the United Kingdom and the United States) proposed the G20 in the late 1990s, a good sense of realism prevailed. They recognized that addressing issues of global finance required the political support from – and involvement of – emerging market economies.

This view proved prescient in seeking policy responses to the 2007–2008 global financial crisis. The leaders of the G20 met at their first summit in Washington D.C. in 2008 to agree on measures to resolve the crisis through dialogues among the “systemically relevant” countries.

GENEVA | HAMBURG (IDN) – The G20 summit in Hamburg on July 7 and 8 delivered a grand declaration of compromises on “major global economic challenges” and “shaping an interconnected world”, but failed to address the grave economic and existential problems of more than three billion people in poor and developing countries, according to those who attended the meeting.

The 15-page declaration issued by the leaders of the 20 major industrialised and developing countries attempted hard to reverse the tide of opposition against globalisation, asserting that “globalisation and technological change have contributed significantly to driving economic growth and rising living standards across the globe.”

HAMBURG (IDN) - The moment said almost all at the G20 summit in Hamburg July 7-8. The heads of government were gathered in a hall, they were requested to turn around towards a presentation. All looked in the direction required – except for U.S. President Donald Trump. And so everyone was looking one way, the U.S. President another. He turned around after a nudge.

Which is where the ‘almost’ comes in. Momentary symbolism on offer like this has to stop somewhere. Trump was given that nudge by British Prime Minister Teresa May. It isn’t May trying to turn Trump towards a consensus with other leaders; she’s looking her own other way herself. And she refused to raise climate change with Trump in the course of a 50-minute bilateral meeting; she only raised it informally after that meeting had ended.

This is the fifth in a series of articles from Kazakhstan which being geographically located both in Asia and Europe, considers itself a Eurasian country. The articles are based on information gathered during a visit from June 7 to June 15 on the occasion of the opening of EXPO 2017 in Astana. Video clips accompany the articles in this series. – The Editor

NEW YORK | ASTANA (IDN) – The world has been meeting in Kazakhstan's capital Astana several weeks ahead of the 25th anniversary of the country's diplomatic service on July 2: at the summit meeting of the Shanghai Cooperation Organisation (SCO), Expo 2017, the Astana Economic Forum, and the Eurasian Media Forum.

The President of the General Assembly, Ambassador Peter Thomson of Fiji, said on April 18 that SDG financing, including the eradication of extreme poverty by 2030, is going to cost about $6 trillion annually -- and then to a hefty $30 trillion through 2030.

At the same time, the Addis Ababa Action Agenda (AAAA), which outlines the implementation of the 17 SDGs, points to an infrastructure gap of some $1 trillion to $1.5 trillion annually in developing countries, while estimates of the global gap generally range from $3 trillion to $5 trillion annually.

GENEVA (IDN | SOUTHNEWS) - Ecuador has unilaterally withdrawn from its remaining 16 bilateral investment treaties (BITs). With this decision, Ecuador has concluded the termination of 26 BITs signed by the country since 1968.

The 16 BITS which Ecuador is withdrawing from had been signed with the Netherlands, Germany, Great Britain, France, Spain, Italy, Sweden, Switzerland, Canada, the United States, China, Argentina, Bolivia, Peru, Venezuela, and Chile.

The Ecuadorian move is part of similar measures taken in recent years by a growing number of developing countries to withdraw from their bilateral investment treaties. These include South Africa, Bolivia, Indonesia and India.

BANGKOK (IDN) - When China hosted a two-day conference in May to help revive the ancient trade routes from Asia to Europe and Africa it was greeted with scepticism by most of the western media. But in much of Asia the mood was more of optimism and opportunity.

CNN reported that “some countries raised concerns over the project seen as boosting Beijing's global clout on trade and geopolitics” – a reoccurring theme in many of the western media reports. While pointing out that the U.S., Japan, India and most of the European leaders had boycotted the meeting BBC described it as a Chinese bid for global leadership. Australia’s ABC said that China wants its ‘new Silk Routes’ to dominate world trade.

BONN (IDN) – The world's 48 poorest countries that are particularly vulnerable to climate change are profoundly concerned whether "substantive progress" will be made in the months ahead on implementing the 2015 Paris Climate Change Agreement in all its aspects.

This was emphasised by Chair of the Least Developed Countries (LDC) group, Gebru Jember Endalew of Ethiopia, as delegates from 140 countries closed the two-week session of the United Nations climate change negotiations on May 18 in Bonn.

The LDCs are a group of countries that have been classified by the UN as "least developed" in terms of their low gross national income (GNI), their weak human assets and their high degree of economic vulnerability.

LI Hong is Permanent Representative of China to the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) in Bangkok, Thailand.

BANGKOK (IDN) - The Silk Road, which is a route linking several major world civilizations 2000 years ago, is invigorated by the Initiative of the Silk Road Economic Belt and the 21st Century Maritime Silk Road (BRI) proposed by Chinese president Xi Jinping in 2013.

The Initiative represents a long-term transcontinental vision for enhanced global economic cooperation and integration. It seeks to underpin future growth, prosperity and sustainable development by promoting policy dialogue and coordination, seamless connectivity, trade facilitation, industry development and people-to-people communication.

BRUSSELS (ACP-IDN) – The African, Caribbean and Pacific (ACP) countries are determined to "undertake the reforms needed to transform the ACP Group into an effective global player, fit for the 21st century, and responsive to the emerging priorities" of member states.

This emerged from the two-day gathering of the ACP Council of Ministers who concluded the 105th session on May 4 with key decisions that will influence how the bloc of 79 countries will carve out a more effective role in the international arena.

According to the President of the Council, Ethiopia's Minister of Finance and Economic Cooperation, Dr Abraham Tekeste, "The current occupancy of the Presidency of the UN General Assembly by Fiji, and the current membership of Senegal and Ethiopia in the UN Security Council, serve to underscore the positive contributions by ACP countries at the global levels."